Apto founder and CEO Tanner McGraw recently wrote an article for RealtyNewsBiz on how commercial brokers can find a specialty and grow their business by defining a unique value proposition. Read an excerpt below.
It’s obvious to all of us that commercial real estate is changing. Brokers are competing not just with each other, but also with new technology and self-service platforms. Clients aren’t just looking for partners with local or regional market knowledge—they want someone who understands the complexity of their individual needs, as well as relevant microtrends and pricing benchmarks. They want someone who can teach them something they can’t learn anywhere else.
Brokers need to define their unique value propositions more sharply, and one way to do this is to become a specialist or expert in a few carefully chosen property types that make sense for your geography and brokerage. And unless you operate in a very small market, this means going narrower than the usual idea of CRE specialization. You may already focus on office, industrial, retail, multi-family, net-lease, etc.—but there’s value in developing expertise and market positioning in more specific niches within these types.
Read on for tips to choose the right area, gain the knowledge you need and use your expertise to generate business.